Project Management Report Case Study Solution and Analysis
Introduction
Project Management Report Case Study Solution is the biggest publishing business with a greatest market share in the China's book retail market. CMP has become a specialized details company and a big comprehensive Science and Innovation publishing company through the combination of print media, audio-visual media and the network media.
Crucial Concerns
CMP has actually invested its 60 years journey efficiently, being a successful publishing house, however, the altering macro market patterns and forces bring specific obstacles to the publishing market in basic and Project Management Report Case Study Analysis in particular. These aspects include;
• Entryway of the brand-new publishing firms in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing techniques
• Improvement of science and technology.
The transformation of the macro markets have raised several concerns to the management at CPM that what could be the future of CMP in this circumstance? Do the long valuable experience, technical resources and the capabilities of the business could be utilized to pursue the future development unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Project Management Report Case Study Solution has specific strengths that can be utilized to decrease the risks, conquer the weak point and obtain the chances. Strengths of CMP are offered as follows;
• The long term experience of Project Management Report Case Study Solution in the publishing market i.e. 60 years enables the company to provide high quality products at a lower expense utilizing its previous experiences.
• The technical resources and capabilities produced by its effective journey provide a competitive benefit to CMP.
• Large product portfolioof CMP helps it to diversify its threat and provide high value to its consumers.
• Strong monetary position allows the business to consider several development chances without any fear of raising fund externally.
Weaknesses
Along with the strengths, the business has specific weak points which could increase constraints for the company in implementing its development program. The weak points of Project Management Report Case Study Help are offered as follows;
• Despite of being a science and technology publishing firm, the business still has conventional methods ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It should propose particular expansion plans to avoid its reliance over the Chinese markets to accomplish long term growth.
Opportunities
Although, the development of the publishing industry is declining because 2008, impacting Project Management Report Case Study Help as well, however the development might be restored by availing particular opportunities provided in the market. The marketplace opportunities for CMP consist of;
• The company could likewise introduce Digital Publishing by utilizing its long term technical experience and a strong customer recognition in the market.
• CMP might think about an advancement program through the growth towards foreign markets in order to lower its reliance over Chinese markets by using its large financial resources.
Risks
The changing macro patterns in the market and increasing competitors in the publishing market has actually postured specific risks to Project Management Report Case Study Solution consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries might lead to decreasing market share of Project Management Report Case Study Solution due to the consumer shift towards virtual libraries.
• The presence of a great deal of competitors in the publishing market increase the threat for CMP to lose its competitive position in the market, as competitors can get a strong consumer base by using specific techniques like aggressive promotion, quality products, and so on
• Entryway of new publishing companies in the market together with existence of high competition increases the risk of losing the consumer base.
Financial Analysis.
The business has a quite competitive monetary efficiency. Due to absence of information, the monetary ratios of CMP might not be calculated. The general monetary efficiency of the company could be examined by utilizing the graphs given in the case Appendices. It could be analyzed from the Appendix III that the annual total profits of CMP during the duration 2000-2012 are growing at a high development rate, revealing that the yearly demand of the products of Project Management Report Case Study Help is growing and the company is rather effective in drawing in a a great deal of consumers at a potential cost.
Along with it, the 2nd chart which shows the yearly development in the Project Management Report Case Study Solution overall possessions, shows that the company is rather efficient in including worth to its possessions through its incomes. The development in assets reveals that the total worth of the company is likewise increasing with increasing the total profits. (Unidentified, 2013).
Another financial analysis of the company using the offered information might be the analysis concerning the circulation of overall profits of the company. Huge part of the earnings of CMP originates from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The business might move towards other company sections with a prospective growth to achieve its future advancement goal.
PESTEL Analysis
PESTEL analysis might be performed to find out the different external forces impacting the efficiency of the company and the recent patterns in the external environment of the business. A short PESTEL analysis of the business is given as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a considerable effect on the frame of mind of individuals about the communist ideology of the government, therefore, the publishing sector is extremely monitored and assisted by the Publicity Department of the Communist Party of China. It might be stated that the overall political forces impacting CMP service are high. The government policies relating to the publishing sector are also increasing with the passage of time.
Cost-effective.
Economic forces impacting the publishing sector in basic and the Project Management Report Case Study Analysis in specific includesthe prices of paper, the earnings level of customers, the inflation rate, and the general GDP development of the nation. All these forces combine impact the demand for the publishing market. Along with it, the financial policies associated with the import of books impact the total organisation at CPM. However, China's economic conditions are rather favorable for CMP with high GDP growth and consumer earnings level.
Social and Demographical.
The customer preferences are moving towards digital publishing rather than the conventional was of publishing. In this regard, CMP should focus on digital publishing to satisfy the changing customer choices.
Technological.
Technological forces affecting the CMP consist of the technological advancement in the reading strategies etc. Enhancement of science and innovation together with the rise of digital publishing could lower the need for the CMP items, if specific actions would not be taken soon.
Environmental.
Ecological forces affecting Project Management Report Case Study Help consists of the issues of environmental neighborhoods over the use of paper in publishing books. The paper used in the books while publishing is needed to be non reusable and the ink utilized while publishing should not be harmful for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be authorized initially by the Government to be entered in the publishing market.
Industry Analysis (Porter's Five Forces Model).
Porter's Five Forces Design could be used to evaluate the appearance of the publishing market China. A short analysis of the Porter's 5 Forces is provided as follows;.
Threat of New Entrants.
Threats of new entrants in the Chinese Publishing Market is moderate. The potential development in the market tends to bring in new entrants to the publishing industry. Nevertheless, the presence of extreme competition and the requirement of substantial capital tends to demotivate new entrants to go into in the marketplace.
Hazard of Alternative.
Threat of Alternative is high for the Chinese Publishing Market. The replacement products for the published files is the files presented in the virtual libraries on particular websites. The changing consumer choices towards digital learning increase the hazard of substitution for the industry.
Competitive Competition.
Competitive rivalry in the publishing industry is high. The presence of large number of customers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive competition for CMP. Along with it, new entrants are likewise participating in the marketplace increasing the competition for CMP.
Bargaining Power of Supplier.
The major providers of the Project Management Report Case Study Solution include the providers of the paper for releasing documents. As CMP is the biggest publisher in the Chinese Publishing Market, therefore the total bargaining power of supplier for CMP is low.
Bargaining Power of Purchaser.
Haggling power of purchaser in the publishing industry is high. Due to the presence of a a great deal of publishers in the Chinese market and the market saturation, the buyers requires high quality files at competitive costs.
Rivals Analysis.
CMP runs in a highly competitive market with the existence of a great deal of competitors. However, the business has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of Project Management Report Case Study Solution consist of;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a threat for CMP as it might wean its market share due to its long term competitive background. CIP is focused on digital publishing and might wean the market share of CMP easily in the present market situation.
Posts and telecommunication Press (PTP).
It was also established in the very same duration as Project Management Report Case Study Analysis and CIP. It is likewise one of the prominent gamers in the publishing market with an annual overall incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Reducing dependence over the Chinese markets.
• Increasing variety of Customers
• Development opportunities.
• Avoiding the impact of market saturation in the Chinese publishing market.
Cons
• Use of prospective resources in expansion.
• Danger of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to introduce utilizing existing capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio offers high value to clients.
Cons
• Competitors in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core company segments to the new one can lead the business to lose demand of its items in the market.
Recommendations
With the deep analysis of the internal and external environment of the business along with the market analysis and the competitor analysis, Alternative 2 is suggested to CMP to accomplish its future advancement. As the preferences are shifting towards digital publishing and the business require an instant option to avoid the declining industry growth. For that reason, intro of digital publishing could prove to be an instant service with low amount of threat for the business. However, the business might likewise consider the growth program after the success of its digital publishing program.
Implementation
In order to introduce digital publishing in its item portfolio, the company must initially collects the information related to the customer demand, the potential markets, the government guidelines and the data related to the competitors presented in the market. If the initial offering shows a success, the business must go for the other markets. In this way the company would be able to execute its digital publishing program.
Conclusion
The development of the publishing industry is declining considering that 2008, showing a hazard to the company's long term presence, however the scenario can be managed by considering a development plan in the future. The business could consider presenting digital publishingin its existing market to implement its advancement program at instant basis and to prevent the danger of failure for entryway in the brand-new markets.
